Fortis Malar Hospitals net profit up 142 per cent in June quarter

MUMBAI: Fortis Malar Hospitals Ltd, a subsidiary of Fortis Healthcare Ltd, today announced that its net profit jumped by 142 per cent at Rs 2.69 crore for Q1 ended June 2012, as against Rs 1.11 crore reported during the same period last fiscal.

Fortis Malar Hospitals recorded an operating revenue of Rs 24.25 crore, in Q1 2012, a growth of 10 per cent over the corresponding quarter of the previous year. Operating profit (EBIDTA) for the period stood at Rs 3.38 crore, an increase of 34 per cent as compared to Q1 2011.

The company's growth was mainly driven by better performances of cardiac sciences, gynaecology, gastroenterology, dialysis and health checks services, a company statement said.

Commenting on the results Aditya Vij, Chairman, Fortis Malar Hospitals, said, "The company continues to maintain its growth momentum which is a result of the institutionalisation of various medical programmes and investments made in upgrading the infrastructure at Malar."

Fortis Malar Hospital (formerly known as Malar Hospital) was acquired by Fortis Healthcare (India) in early 2008. The hospital founded in 1992, is established as corporate hospitals in Chennai with 180 beds providing quality super specialty and multi-specialty healthcare services.